ValuEngine Lowers Itau Unibanco (NYSE:ITUB) to Sell

ValuEngine downgraded shares of Itau Unibanco (NYSE:ITUB) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, ValuEngine reports.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Itau Unibanco from a sell rating to a hold rating in a research report on Monday, April 29th. HSBC raised shares of Itau Unibanco from a reduce rating to a hold rating in a research report on Friday, May 17th. Goldman Sachs Group initiated coverage on shares of Itau Unibanco in a research report on Monday, June 10th. They issued a sell rating on the stock. Finally, JPMorgan Chase & Co. raised shares of Itau Unibanco from a neutral rating to an overweight rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $12.00.

Shares of NYSE ITUB traded down $0.11 during mid-day trading on Thursday, reaching $8.98. The company had a trading volume of 28,477,517 shares, compared to its average volume of 15,674,664. The company has a current ratio of 1.73, a quick ratio of 1.86 and a debt-to-equity ratio of 1.74. The stock has a 50 day simple moving average of $9.47. The stock has a market cap of $87.23 billion, a PE ratio of 13.40, a P/E/G ratio of 1.15 and a beta of 0.93. Itau Unibanco has a 52-week low of $6.57 and a 52-week high of $10.80.

Itau Unibanco (NYSE:ITUB) last posted its earnings results on Thursday, May 2nd. The bank reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The company had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.43 billion. Itau Unibanco had a net margin of 15.56% and a return on equity of 18.17%. Research analysts predict that Itau Unibanco will post 0.76 earnings per share for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 2nd will be paid a dividend of $0.004 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Thursday, August 1st. Itau Unibanco’s dividend payout ratio is currently 7.46%.

Large investors have recently modified their holdings of the stock. AMS Capital Ltda lifted its position in Itau Unibanco by 6.6% during the second quarter. AMS Capital Ltda now owns 372,801 shares of the bank’s stock valued at $3,512,000 after buying an additional 23,211 shares in the last quarter. Investec Asset Management PTY Ltd lifted its position in Itau Unibanco by 12.4% during the second quarter. Investec Asset Management PTY Ltd now owns 106,308 shares of the bank’s stock valued at $1,004,000 after buying an additional 11,695 shares in the last quarter. Schafer Cullen Capital Management Inc lifted its position in Itau Unibanco by 3.5% during the second quarter. Schafer Cullen Capital Management Inc now owns 1,012,351 shares of the bank’s stock valued at $9,870,000 after buying an additional 33,907 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Itau Unibanco by 9.3% during the second quarter. Janney Montgomery Scott LLC now owns 16,634 shares of the bank’s stock valued at $157,000 after buying an additional 1,420 shares in the last quarter. Finally, INCA Investments LLC lifted its position in Itau Unibanco by 18.0% during the second quarter. INCA Investments LLC now owns 8,911,500 shares of the bank’s stock valued at $83,946,000 after buying an additional 1,361,001 shares in the last quarter. Hedge funds and other institutional investors own 4.56% of the company’s stock.

Itau Unibanco Company Profile

Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.

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Analyst Recommendations for Itau Unibanco (NYSE:ITUB)

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